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Trump Considers Ousting Federal Reserve Chair Jerome Powell Amid Policy Disagreements
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Washington D.C. – Former President Donald Trump is reportedly contemplating the dismissal of Federal Reserve Chairman Jerome Powell, a move that sent ripples through financial markets. The consideration emerged following a private meeting with Republican lawmakers at the White House, where Trump indicated his intention to remove Powell from his post.
During the Tuesday evening gathering, Trump directly solicited support from attending congress members for ousting Powell. Their affirmative responses reportedly emboldened the former president’s resolve. The news immediately impacted financial indicators, with the S&P 500 experiencing a decline and yields on U.S. government bonds rising.
Months of frustration Over Interest Rates
Trump has voiced persistent criticism of Powell’s monetary policy for an extended period. The Federal Reserve has maintained its stance against lowering policy interest rates, citing ongoing inflation uncertainties. Fed officials have expressed concerns that previous Trump-era policies, such as tariffs on imported goods, could reignite price pressures.
This policy direction clashes with Trump’s stated economic objectives, which include fostering a stable monetary habitat and boosting stock market performance in anticipation of the November 2024 elections.powell, whom Trump appointed in 2017, has remained steadfast in his adherence to the Fed’s mandate.
Legal Hurdles and Political Pressure
While Trump has publicly called for Powell’s resignation multiple times,the legal framework does not permit a president to dismiss the Federal Reserve chair solely based
